BRAIN AG appoints experienced corporate finance specialist to the Board of Management
- Eric Marks to leave the Board of Management of BRAIN AG for personal reasons as of 31 October 2016
- BioIndustrial Segment to be expanded in a consistent manner
- M&A activities to become the direct responsibility of the BRAIN Group's Board of Management
Changes to the Board of Management and the management team were pushed forward at the ordinary meeting of the Supervisory Board of B.R.A.I.N. Biotechnology Research and Information Network AG ("BRAIN AG"; ISIN DE0005203947 / WKN 520394) on 23 September 2016. Frank Goebel (46) will be appointed to the Board of Management of BRAIN AG as per 01 November 2016, thus moving from the position of Managing Director of BRAIN Capital GmbH, which he has held since February 2015, to the Group Board of Management. This step will anchor the group's M&A activities, which are crucial for the company's forward integration, directly in the group's Board of Management.
The creation or expansion of direct ways to access the B2B market as well as the establishment or extension of sales expertise are building blocks intended to promote the company's industrialization strategy and to tap growth opportunities in the BioIndustrial B2B product business. Besides the group's M&A activities, Frank Goebel will also take over responsibility for corporate investment management, i.e. the management of the BRAIN Group's subsidiaries, in order to facilitate an interconnection of the various subsidiaries' management and thus make even more use of the synergy potentials within the corporate portfolio. "I am eagerly anticipating this exciting new challenge. In the past two years, I have already been able to gain a comprehensive view of the company, and I do see a clear potential for growth. In future, I would like to cooperate even more closely with our subsidiaries in order to continuously expand the industrialization of the BRAIN Group," says Frank Goebel, designated member of BRAIN AG's Board of Management. Adds Dr Jürgen Eck, CEO of BRAN AG: "I am looking forward to working together with Frank Goebel, with whom the Board of Management and I have cooperated in a very trusting and efficient manner in the past."
Eric Marks (55), the enzyme specialist and corporate COO, will leave the Board of Management as of 31 October 2016 for personal reasons and at his own request. Says Dr Jürgen Eck, CEO of BRAIN AG: "On behalf of the entire BRAIN team, I would like to express my thanks for the close and trustful cooperation. We regret Eric Marks's resignation from the Board of Management, but respect his decision. Eric Marks has rendered valuable services to the company when it came to the successful marketing and sales of products. On the basis created by Mr Marks and making good use of the industrial network expanded by his efforts, we will continue to further drive product development and sales in close cooperation with the managing directors of the companies in the BRAIN Group, thus further growing BRAIN's BioIndiustrial segment as scheduled. The forming of strategic industrial partnerships with manufacturers and consumer goods companies, such as the one recently formed with Roquette in the field of natural sweeteners (DOLCE programme) will gain in importance as regards product-related business development and as well as the manufacturing and sale of products in the B2B business.
The position of Dr Georg Kellinghusen, whose time on the Board of Manangement was originally limited to 31 December 2016, has been prolonged until the end of the ordinary shareholders' meeting scheduled for the end of March 2017, in order to finalize the business year 2015/16 properly. Afterwards, Frank Goebel will also take over CFO responsibility from Dr Kellinghusen.
About Frank Goebel
Frank Goebel joined the BRAIN Group as managing director of the company's wholly-owned subsidiary B.R.A.I.N. Capital GmbH in February 2015 to support BRAIN's industrialisation strategy. Frank Goebel has a diploma in business administration and completed all three levels of the CFA programme. Before joining BRAIN, Frank Goebel spent 15 years in banking in the Structured Finance area, the last ten years at the Royal Bank of Scotland plc. working out of Frankfurt and London. During his earlier years in banking he focused on LBOs backed by Financial Sponsors, working on widely syndicated arranging mandates. For the last six years he became involved with financial restructuring transactions such as debt-for-equity swaps, acting as an Investment Director on a Pan-European basis. In his early career, Frank Goebel worked as a controller in a German industrial company as well as in his father's trading business.
This press release contains forward-looking statements. These statements reflect the current views, expectations, and assumptions of the management of BRAIN AG and are based on information currently available to the management. Forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. There are numerous factors which could influence the future performance by and future developments at BRAIN AG and the BRAIN group. Such factors include, but are not limited to, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. The company does not undertake any obligation to update or revise any forward-looking statements.
About B.R.A.I.N. AG
BRAIN AG is one of Europe's leading technology companies in the field of industrial biotechnology, the core discipline of the bioeconomy. As such, BRAIN identifies previously untapped, efficient enzymes, microbial producer organisms or natural substances from complex biological systems that can be put to industrial use. The innovative solutions and products developed by help of this "Toolbox of Nature" are successfully applied in the chemistry, the cosmetics and the food industries. Today, BRAIN's business model is based on two pillars - "BioScience" and "BioIndustrial". The first pillar, "BioScience", comprises ist - frequently exclusive - collaboration business with industrial partners. The second pillar, "BioIndustrial", comprises the development and commercialisation of BRAIN's own products and active product components. You will find further information at www.brainbiotech.de/en.